The iVinyl is a small box (a pre-amp, which you need to get audio in from your record player) that you plug between your analog audio source (records, cassettes, TV, radio, even DVD outputs) and an available USB port on your Mac. Then you can start recording AIFF right away, in real time. Using the included Roxio CD Spin Doctor you can edit, scrub or polish your tracks or you can just dump them into iTunes, burn them to CD or convert them to your preferred format for use on your iPod.
So far it seems to only be available in the UK and it's not the cheapest method of doing this at roughly $150 USD, but if you have a large collection to rip it's not such a bad deal.
[via Macworld UK]